FORUM ON PUBLIC SECTOR ACCOUNTING
STANDARDS & BUDGETING
JUN 19-25, 2022
THEME: Financial Planning and Management Systems in Contemporary Times
Experts have long regarded the weaknesses in public sector financial planning and management systems as impediments of good governance, accountability, and efficiency in governance in Africa. Also, a poorly-designed budget, limited execution, and a truncated ability to use funds flexibly may prevent development actions in key aspects of the society. Across Africa, the challenge of public financial management is more acute than in other regions of the world, with bottlenecks affecting all steps of the budget cycle, from preparation to execution, reporting, and auditing, which have hindered the progress and development of the continent.
Several African countries, working to reform the public financial management (PFM) systems, have over the past years introduced complex interventions, such as multi-year financing/expenditure plans, program-based budgets, or integrated financial information management systems, which have advanced overall levels of PFM systems in general. However, reform implementation has been slow and has often been hindered by limited financial management capacity and other institutional factors, especially at sub-national levels. Many countries in the region have the challenges of PFM interventions that are partially implemented at basic or more advanced levels, leading to apparent contradictions of complex procedures being introduced even when basic aspects of budget preparation, approval, or timely execution are not fully in place. More so, it is also pertinent to mention that both financial and non-financial public sector employees and managers are regularly required to provide input to the budget process annually and respond to information presented in departmental financial reports in today’s Africa.
Therefore, the Forum on Public Sector Accounting Standards and Budgeting is the perfect educational and training to up-skill and provide a comprehensive briefing to participants on the fundamental principles and key functions in the continuously developing sphere of public sector finance. The forum would adopt a mix of lectures, roundtable, and hands-on training sessions to also provide an invaluable refresher for finance professionals in the public sector, as well as useful practical coursework for the non-financial manager, incorporating a vital update on Public Sector Accounting Standards Board (IPSASB) standards and other recent developments in the field of New Public Management.
The Forum on Public Sector Accounting Standards and Budgeting has been designed to provide you with up-to-date knowledge and practical skills in the preparation and interpretation of public sector financial statements and budgets. By the end of this forum, you will have learned to:
- Understand the role of financial accounting in public sector management.
- Prepare accounts in tandem with the IPSASB framework.
- Analyze and interpret public sector financial reports.
- Use forecasting techniques to plan for income and expenses.
- Understand and actively participate in the budget process.
- Understand apply capital investment appraisal methods.
- The objectives and methodology of public sector budgeting.
- Public-Private Partnerships (PPP) and Private Finance Initiatives (PFI).
- Public sector management reforms.
This forum will be structured as a highly participative workshop with formal presentations, case studies, and interactive worked-examples. Relevant examples and case studies are provided to illustrate the application of each of the topics covered and opportunities are provided to learn and apply the key financial accounting and budgeting principles using practical examples and exercises.
ORGANISATIONAL & PERSONAL IMPACT
The organization will benefit from the development and practical application of skills in financial accounting and budgeting in compliance with the requirements of the IPSASB framework. This will deliver benefits in raising awareness of key financial principles and improved decision-making. At the personal level, participants will benefit from updated knowledge and applied practical skills in financial accounting and budgeting in the context of public sector organizations. These skills will allow delegates to make a greater contribution to the budgeting and financial decision-making processes in their organization, at the same time enhancing their career development potential.
WHO SHOULD ATTEND?
This forum would be relevant to all persons involved in the preparation, presentation, and interpretation of corporate financial statements from both the private and public sector where compliance with the IASB and IFRS framework is required; both in commercial businesses, government, and not-for-profit organizations. This Forum on Public Sector Accounting Standards and Budgeting is suitable to a wide range of professionals but will greatly benefit:
- Public Sector Purchasing and Procurement Managers
- Departmental Budget Holders
- Financial Accounting Team Members
- Finance Managers
- Planning Managers
- Public Sector Budget Accountants
- Assistants to Ministry and Departmental Officials